Coda
Basics * "Coda is the first cryptocurrency with a constant sized blockchain, which it achieves using recursive zk-snarks, compressing the entire blockchain into the size of a few tweets." * The O(1) team describes Coda as a succinct blockchain. From its whitepaper: “A succinct blockchain is a blockchain with verification complexity essentially independent of chain length.” Launch * Working on mainnet (2-2019) * "We have begun development of our zero-knowledge scripting system." (5-2019) which would hint that their claim of "using recursive zk-snarks, compressing the entire blockchain into the size of a few tweets" hasn't been completed yet. * From Proof of Work #75 (28-9-2019): "Testnet BETA Launched in Phase 2 this week, with longer, more stable releases; 70 community members signed up to stake and there is a lot of activity on our Discord channel Phase 1 of Testnet concluded last week, we had 120+ community members join, and 90+ run a node. Lots of good technical developments all recapped in our Phase 1 Retro Blog We are now using the Poseidon hash function, which has improved our SNARKs by up to 8x. Improving SNARK performance will help us to decrease our block times, which is important for fast confirmation." * From their own blog (21-9-2019): "In addition, Phase 1 of the public testnet featured two significant firsts for cryptocurrencies: # Usage of recursive zk-SNARKs to enable a succinct blockchain In week 6 of Phase 1, we ran a SNARK work challenge where node operators on the Coda network ran SNARK worker nodes and helped compress transactions. This resulted in: * 4192 SNARK proofs produced * 8853 codas in SNARK fees accrued Furthermore, it was a chance to test assumptions on the SNARKetplace economics and ensure that incentives were aligned. 2. Implementation of Ouroboros proof-of-stake consensus in a production network" Cross Chain Atomic Swaps * Coda and Komodo successfully (18-10-2019) executed CODA<-->KMD cross-chain operations: “After talking to the Coda devs, it seems that a dual-daemon approach is feasible. This would mean that the Komodo protocol daemon would run alongside the Coda protocol daemon and, via IPC, the two halves can communicate. We are implementing this dual-daemon solution to create a new type of chain, where each side is a 1:1 mirror of the other side, with the coin emissions balanced between block production on each side. This allows us to create a Coda-protocol-based chain that also has a built-in 1:1 Komodo-protocol Smart Chain. One advantage to this is that it would allow all the existing exchanges to immediately integrate it without any additional customizations, as the Komodo protocol side uses standard Bitcoin RPC. Then, people who are using the coin could migrate the coins over to the Coda side as needed. So the traditional side will also have access to all the Antara modules, and that would allow a dual-daemon chain to have literally thousands of different instantiations. For instance, you could make a stablecoin backed by KMD and able to be 1:1 migrated automatically to the Coda protocol side of this dual-daemon chain cluster. It could be that the most powerful usecase is for massive scaling, as the coin emissions are done on the Komodo side and then the actual high-volume usage on the Coda side, where the blocks are of constant size regardless of transaction volume. I hope you can see the spectrum of possibilities, basically unlimited." -- Komodo Lead Developer James 'jl777' Lee" Team, investors, partners, etc. Team * Being created by 0(1) Labs. * Evan Shapiro, CEO * 'Izaak' * Avery Morin, O(1) Labs as a hybrid frontend/protocol engineer * 'Matthew' * 'Echo' * Jill Carlson; advisor Investors * Initially backed by a seed equity round from MetaStable, Electric Capital, Polychain and AngelList co-founder Naval Ravikant. And 0(1) Labs has raised (4-2019) $15M series A from Accomplice, Coinbase Ventures, Paradigm, and General Catalyst for its Coda protocol. Partners * Has worked together with the Komodo devs and created atomic swaps between both chains afterwards. Category:Coins/Tokens